Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF ELECTRICITY

  total $145,489,169 · related or exempt $145,489,169

• 2b · Program service revenue: EGLIN CONTRACT REVENUES

  total $10,838,479 · related or exempt $10,838,479

• 2c · Program service revenue: CAPITAL CREDITS

  total $2,510,870 · related or exempt $2,510,870

• 2d · Program service revenue: OTHER REVENUES

  total $1,967,102 · excluded $1,967,102

• 3 · Investment income

  total $925,452 · excluded $925,452

• 6a · Gross rents

  personal property $800,212

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $800,212

• 6d · Net rental income or loss

  total $800,212 · excluded $800,212

• 7a · Gross sales of assets other than inventory

  other assets $149,194

• 7b · Less cost or other basis and sales expenses

  other assets $0

• 7c · Gain or loss

  other assets $149,194

• 7d · Net gain or loss

  total $149,194 · excluded $149,194

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $132,628

• 2 · Grants to domestic individuals

  total $11,900

• 4 · Benefits paid to or for members

  total $1,574,921

• 5 · Compensation of officers, directors and key employees

  total $1,282,572

• 20 · Interest

  total $8,984,805

• 22 · Depreciation, depletion and amortization

  total $14,754,540

• 24a · Other expenses: COST OF POWER

  total $97,463,446

• 24b · Other expenses: MAINTENANCE

  total $11,764,565

• 24c · Other expenses: ADMINISTRATION

  total $8,168,989

• 24d · Other expenses: DISTRIBUTION EXPENSE

  total $4,030,846

• 24e · All other expenses

  total $5,738,478

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,791,787 · end of year $2,205,912

• 2 · Savings and temporary cash investments

  beginning of year $11,226,562 · end of year $6,081,051

• 4 · Accounts receivable

  beginning of year $13,494,476 · end of year $18,082,886

• 8 · Inventories for sale or use

  beginning of year $23,299,014 · end of year $25,301,110

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,059,825 · end of year $3,622,907

• 10a · Land, buildings and equipment: cost or other basis

  $440,734,508

• 10b · Land, buildings and equipment: accumulated depreciation

  $134,935,317

• 10c · Land, buildings and equipment, net

  beginning of year $295,608,777 · end of year $305,799,191

• 12 · Investments: other securities

  end of year $7,883,603

• 13 · Investments: program-related

  beginning of year $51,334,674 · end of year $53,540,176

• 15 · Other assets

  beginning of year $112,615 · end of year $59,713

• 17 · Accounts payable and accrued expenses

  beginning of year $9,837,450 · end of year $11,583,656

• 19 · Deferred revenue

  beginning of year $12,297,329 · end of year $10,713,917

• 23 · Secured mortgages and notes payable

  beginning of year $217,376,245 · end of year $228,101,740

• 25 · Other liabilities

  beginning of year $32,383,401 · end of year $34,020,641

• 29 · Capital stock, trust principal or current funds

  beginning of year $265,260 · end of year $276,865

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $128,768,045 · end of year $137,879,730

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 4B

STEPHEN RHODES PARTICIPATED IN THE EXECUTIVE BENEFIT RESTORATION PLAN, WHICH IS A NON-QUALIFIED RETIREMENT PLAN.

SCHEDULE J, PART II(C)

THE AMOUNTS REPORTED ON SCHEDULE J, PART II(C) REPRESENT THE CHANGE IN THE ACTUARIAL VALUE OF THE NRECA RETIREMENT SECURITY (RS) DEFINED BENEFIT PENSION PLAN AS COMPUTED BY THE PLAN'S ACTUARIES AND INCLUDES THE AMOUNT OF 401(K) EMPLOYER CONTRIBUTIONS. THIS IS NOT REPRESENTATIVE OF AMOUNTS PAID BY THE COOPERATIVE ON THE EMPLOYEE'S BEHALF.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• SOUTHLAND UTILITY SERVICES INC

  C · PART VII · FL · 100% owned · share of income $7,788,975 · share of assets $5,765,194 · controlled entity

  Directly controlled by CHOCTAWHATCHEE ELECTRIC COOPERATIVE INC